Amgen Inc. (NASDAQ:AMGN) Shares Sold by IMS Capital Management

IMS Capital Management cut its holdings in Amgen Inc. (NASDAQ:AMGN) by 10.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,335 shares of the medical research company’s stock after selling 599 shares during the quarter. IMS Capital Management’s holdings in Amgen were worth $1,753,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Strategic Financial Concepts LLC acquired a new position in Amgen during the second quarter worth $26,000. Horizon Financial Services LLC purchased a new position in shares of Amgen in the 1st quarter valued at about $28,000. Hershey Financial Advisers LLC acquired a new stake in shares of Amgen in the second quarter valued at about $30,000. nVerses Capital LLC purchased a new stake in Amgen during the second quarter worth about $31,000. Finally, Bbjs Financial Advisors LLC acquired a new position in Amgen during the second quarter worth about $33,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $322.21 on Tuesday. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64. Amgen Inc. has a fifty-two week low of $249.70 and a fifty-two week high of $346.85. The business has a 50 day moving average price of $328.49 and a two-hundred day moving average price of $308.12. The firm has a market cap of $172.84 billion, a PE ratio of 46.03, a price-to-earnings-growth ratio of 2.98 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing the consensus estimate of $5.01 by ($0.04). The business had revenue of $8.39 billion for the quarter, compared to analyst estimates of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. Amgen’s revenue was up 20.1% compared to the same quarter last year. During the same quarter last year, the company earned $5.00 EPS. Sell-side analysts expect that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were issued a dividend of $2.25 per share. The ex-dividend date was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.79%. Amgen’s dividend payout ratio (DPR) is presently 128.57%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. TD Cowen lifted their price target on shares of Amgen from $360.00 to $381.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Wells Fargo & Company lowered Amgen from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $320.00 to $335.00 in a report on Wednesday, August 7th. Bank of America lifted their price target on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Robert W. Baird reissued an “underperform” rating and issued a $215.00 price objective on shares of Amgen in a research note on Wednesday, September 25th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $305.00 price objective (down from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $325.55.

About Amgen

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.